What is Digital Transformation?
Let us simplify the buzzword.
Digital Transformation is the use of new, fast and frequently changing digital technology to solve problems. It is about transforming processes that were non digital or manual to digital processes.
This could simple process enhancements such as moving your database to the cloud or customers making payments through a secure website or employees managing and tracking their work schedules via mobile phone. The possibilities of this rapidly evolving technology is immense and we have just begun (but more about that later). Let us try to understand what do business leaders expect from this technological intervention.
What do business leaders expect from Digital Transformation?
We look at the Top 8 expectations leaders have from Digital Transformation based on IDG 2018 survey of 702 IT and business decision makers.
1. Employee productivity
Little over half, for 52 percent of executives, “becoming a digital business means enabling worker productivity through tools such as mobile, data access and AI-assisted processes.”
2. Data-driven business performance
For 49 percent executives, digital transformation is “the ability to better manage business performance through data availability and visibility.”
3. Customer experience
For 46 percent of decision-makers, digital transformation “means meeting customer experience expectations,” while 44 percent see it as “understanding customer needs through data collection and analysis.”
4. Mobile capabilities
Another 46 percent see digital transformation as “providing secure, optimized anywhere/anytime access to assets.”
5. Process automaton
At least 37 percent say digital transformation means “digitally modifying business and/or processes.”
6. Revenue streams
33 percent view digital transformation as developing new digital business/revenue streams.
7. Product innovation
Another 31 percent see digital transformation as achieving top-line growth through digital product enhancements/new digital products or services.
8. Supply chain optimization
For more than a quarter, 27 percent, digital transformation means digitizing “the flow of data and information worldwide, which enables the movement of goods, services, finance and people.”
The important fact to understand about Digital Transformation is that the new technological tools are like pieces of a large puzzle; and that puzzle leads to innovation in the entire business. It is imperative to look at the value chain holistically to find strategic solutions.
Innovation starts with people; technology is a mere assistant to the process.
Author: Pranjali Apurva, Chief Innovation Druid, BLVCK PiXEL